UNDERSTANDING GHE-DOLLARIZATION The U.S. dollar has dominated global trade and capital flows for decades. DE-DOLLARIZATION However, many nations are looking for alternatives ‘The process of substituting the U.S. dollaras the currency tothe greenback to reduce their dependence | used for trading commodities and other goods and services. onthe US, TIMELINE OF DOLLAR DOMINANCE 1 1920s 11944 The dllarbegins to dsplae the pound string Interationalradeis conducted ‘asa intrmatinalresenecurency after the Fits usingthe U.S. dolar under the World Wat, The Unted Stalesisa significant Bietlon Woods Agreement. recipient of wartime gol inflows, 1971 President Non ceases the direct ‘convrtibity of US, dollars ogo European and Japanese exports bscom= more competitive with U.S. exports. Thoreis a large suppy of lars around ‘the wot, making ficult to back dollars wih gold AR at 2007-2008 * 2014 ‘Global financial erisis: investors seok US. Following the annexation of Cree, Russia pronizes ‘olers expecting the curcy toetainits valve ‘d-dollarization in response to Western sanctions, ° 1981 ‘Alter years of hypernaton the US. dol 4oses two-thirds ofits purchasing power. ; 2023 | 2022 ‘© Fussa and ran are working iogetherto launch aeryptocureney backed by gold. Despite thesa movements, fw expect to see the end ofthe do's gba ‘sovereign sats anytime soon. Curent, central banks stil old about 60% oftheir foreign exchange sores in dlrs. ‘The warin Ukraine rsuls in Wostam sanctions agains! Russa. Asa resul, Rusia and China deepen cooperation between ther fnancial stems, wih rule yuan ade nreasing 80xin eight months. WORLD FOREIGN EXCHANGE RESERVES VOLUME OF CHINESE-RUSSIAN TRADE IN YUAN 2008 + bnasionbegins rece f wim0e 08 08 a May ZL Sop’ Janz May22 Sop? dan ©. Reuters, G1, Business insider, Yahoo, Wikipedia, Alan zn eens rem : carpet ol een